Shipping, Payment & Auction Policies
SHIPPING
We do not undertake the packaging, shipping of the items.
Please note that cost of packaging and shipping depends on the size/weight of the item(s) purchased, insurance requirements, and the shipping destination not the value of the item(s) purchased. Any shipping costs shall be at the Buyers’ expense.
PAYMENT
PAYMENT: Payment can be made via visa/master card (Buyers must pay 3% surcharge on all credit cards), debit card (no extra charge) or bank transfer.
Bank payments can be made to: Account no: 52998060. Sort code: 30-91-91. IBAN: GB62 LOYD 3091 9152 9980 60 BIC: LOYDGB21456. Lloyds Bank UK PLC.
If you are paying from a foreign country, the amount we receive must be the total amount due in GBP sterling pounds, all currency and administration charges must be paid by you and not deducted from the amount paid into our account. Payment must be made on time, in full, and without any deduction, off set or counterclaim. The purchase price payable by the buyers shall be the total of the final bid price plus buyers’ premium together with any card charges and VAT as applicable.
1. Buyers’ Premium
The Buyers agree to pay a buyers’ premium on the end of auction price of each lot purchased. The buyers’ premium is 28% of the final auction price on each lot.
2. VAT
Currently, Treasure Art Ltd. is not VAT registered, and therefore VAT is not charged on the current lot as of Oct, 2021. This may change in the future. If so, the prevailing rate of at the time of going to press is 20%, but this is subject to government changes. The Buyers are responsible for paying VAT on any Lot, above final auction price and Buyers’ premium. The rate applicable shall be the legal rate at the date of the sale.
3. Import
It is buyers’ responsibility to ensure that any items etc. can legally be imported into their country.
4. Buyers' Obligations
All bidders must agree that they have read and understood Treasure Art Ltd’s conditions of sale and agree to be bound by them, and agree to pay the buyers’ premium and any other charges (i.e. VAT, Shipping, Import Duty, Payment surcharge) This affects the bidders’ legal rights.
If you are intending to buy from any lots, it is your responsibility to satisfy yourself the items that you are buying meet your acceptable standard. Descriptions provided in the catalogue do not imply the item is in a good condition or without fault. You should ensure the item is to your satisfaction.
5. Description and Condition
Treasure Art Ltd acts as an agent for the Seller. Treasure Art Ltd.’s job is to sell the LOT at the highest price obtainable at the Sale to a Bidder. Treasure Art Ltd does not act for Buyers or Bidders in this role and does not give advice to Buyers or Bidders. Treasure Art Ltd makes no warranty to the effect of the catalogue description is accurate. All statements are statements of opinion only, Treasure Art Ltd. is not responsible for the accuracy of any opinion given.
Members of Treasure Art Ltd.’s staff are not trained restorers or conservators and for higher value lots, you should obtain and opinion from a professional personnel.
Treasure Art Ltd undertakes no obligation to examine, investigate or carry out any tests, either in sufficient depth or at all, on each Lot to establish the accuracy or otherwise of any Descriptions or opinions given by Treasure Art Ltd, or by any person on Treasure Art Ltd.’s behalf, whether in the catalogue or elsewhere.
6. Loss and Damage of goods
Treasure Art Ltd is not liable for ANY loss or damage occurring to Lots after the sale. If the items in/out of transit, Treasure Art Ltd shall not be responsible for any loss or damages that may occur.
7. COVID-19 Safety standards
Treasure Art Ltd galleries are currently subject to government restrictions and collection is not available at moment, this may be subject to change in future.
IMPORTANT Terms and Conditions
These terms and conditions apply to all online bidding at auction sales conducted by or in conjunction with Treasure Art Ltd. By registering to participate in Online Bidding, you expressly agree to these terms and conditions.
1. Before the Sale
a). Agent for the seller
Unless otherwise agreed, Treasure Art Ltd acts as an agent for the seller. The contract for sale of the LOT is therefore made between the Seller and the Buyer.
b). Definitions
For the purposes of the current Terms and Conditions, the Seller shall be defined as the owner of the Goods. It is implied that the Seller is the legitimate owner and is authorised to sell the Lot. The Bidder is any registered person participating in the auction, and the Buyer is the successful Bidder for a particular Lot. The Lot means the item(s) put up for sale by Treasure Art Ltd and to which the present Terms and Conditions apply.
c). Catalogue descriptions
Any representation in any catalogue or otherwise as to the origin, date, age, attribution, genuineness or estimated selling price of any lot is a statement of opinion only. Such statements do not constitute a representation warranty or assumption of liability by Treasure Art Ltd in relation to the Lot. Any prospective Buyer should satisfy themselves prior to the sale as to the reliability of the catalogue description. The absence of mention related to prior restorations in the Catalogue descriptions does not imply that the good is exempt thereof. Photographs of any Lot provided by Treasure Art Ltd are for indicative purposes only and are not deemed to be a precise representation of the said Lot. The Buyers are advised to seek independent expert advice in order to be assured of the authenticity and true state of the items.
d). Estimates
Estimates are based on various factors inherent to the situation of the market at the time of the sale, as well as considerations such as the condition, rarity, or quality of the item etc. Estimates are only indicative and represent the opinion of Treasure Art Ltd. Estimates provided by Treasure Art Ltd cannot constitute a guarantee as to the value of the item. Subsequently, items may sell at prices lower or higher than the provided estimates.
2. Registration
Once you have registered you should keep your account details strictly confidential and you must not permit any third party to use or access your account on your behalf or otherwise. You will be liable for any and all bids made via your account.
3. Online Bidding Process
a). Once you have successfully registered for Online Bidding in a Sale, you will be eligible to bid online at that Sale.
b). During a Sale, you can bid for a lot by clicking the Bid button. Each bid shall be final and binding as soon as you click the Bid button.
c). The current bid will be displayed on your screen during the Sale. In the event of a tie between a bid placed by you online and any other online bid(s), it will be at the auctioneer's discretion as to which bid shall be accepted.
d). You acknowledge that you are bidding in a live auction and you agree that each bid submitted as provided in these terms and conditions is irrevocable and cannot be amended or corrected, even if submitted in error and notified to us. You accept full liability for all bids submitted via your Online Bidding account (including the liability to pay in full and on time in accordance with the Bid Conditions for any lot that is the subject of a successful bid submitted from your account).
e). Please note that Treasure Art Ltd. reserves the right to reject a registration to bid online, withdraw its permission for you to use Online Bidding, or terminate an Online Bidding account, for any reason at any time prior to, during or after a Sale.
4. Contract Formation and Effects
a). Contract of sale
The contract of sale is between the Buyer and the Seller. The Buyer shall be the bidder at the highest price at the end of auction. The sale is deemed complete once the auctioneer announces its completion by the end of auction and the contract shall be binding thereafter between the Buyer and the Seller and Treasure Art Ltd. When a Buyer purchases multiple Lots, each Lot is the subject of a separate contract of sale.
b). Transfer of Item
Property of the goods shall pass to the Buyer only once Treasure Art Ltd has received full payment for the goods, this includes the price at the end of auction as well as Buyer’s premium, relevant taxes, payment surcharge and costs in relation to shipping.
c). Transfer of risks
Purchased Lots shall be at the Buyer’s risk in all respects from the end of auction, and neither Treasure Art Ltd nor their agents shall be responsible for any loss or damage of any kind, whether caused by negligence or otherwise.
d). Cancellation of the sale
At the end of auction, the contract is formed between the Buyer and Treasure Art Ltd and is binding thereafter. Under no circumstances can the Buyer cancel the sale. Treasure Art Ltd may at its entire discretion, during or after the auction, cancel the sale of the Lot or reoffer and resell the Lot if it becomes aware of any error or dispute of any nature, whether or not title has passed to the Buyer, and up to a period of 6 months after the said sale.
Grounds for cancellation under the present section shall include but not be limited to any dispute relating to the attribution or provenance of the Lot, ownership and title, fraud or deceit, lack of relevant licences or certificates, any subsequent changes in domestic or international legislations restricting the sale of export of goods etc.
5. After the Sale
a). You agree to pay for any lot that is the subject of a successful bid submitted by you or from your Online Bidding account, in accordance with the Bid Conditions.
b). Remedies for non-payment
If the Buyer fails to make full payment in cleared funds within the time required as aforementioned, Treasure Art Ltd shall be entitled to exercise any one or more of the following rights or remedies additional to such other rights or remedies available:
? To cancel the sale
? To charge interest at 4% per annum above the base rate of Lloyds Bank Plc.
? To resell the Lot on such terms by auction or otherwise entirely at Treasure Art Ltd’s discretion. The Buyer will be liable for all costs including legal fees incurred in the sale and will remain liable for any shortfall arising upon sale.
? To refuse entry to the Buyer at any future auction and/or reject any future bids by the Buyer and/or seek a deposit from the Buyer entirely in the discretion of Treasure Art Ltd.
? To exercise a lien over the Buyer’s property in the possession of Treasure Art Ltd as collateral for any outstanding sums owed and to exercise all the rights and remedies of a person holding security over any such property, whether by way of pledge, security interest or in any other way to the extent permitted by Law.
? To commence legal proceedings for the recovery of the total amount due together with interest, legal fees and costs.
? To take such other action as is permissible by Law and in the discretion of Treasure Art Ltd.
6. Use of the Online Bidding Service and Limitations of Treasure Art Ltd' Liability
a). If you choose to use the Online Bidding service, you do so entirely at your own risk. Access to and use of Online Bidding is dependent upon, among other things, the availability of the internet and the speed and quality of internet connections.
b). Please note that the Sale is conducted, and all bids must be made, in the currency of GBP sterling pounds. All bidding increments will be in sterling pounds only. Payment for any lot that is the subject of a successful bid must also be made in pounds and not in any other currency. We do not accept any responsibility for any errors that may occur as a consequence of any currency conversion tool.
c). The content displayed via the Online Bidding service may contain inaccuracies and typographical errors and we do not warrant the accuracy or completeness of the content or that any defects will be corrected. Any reliance on any such content, advice, statement, or other information shall be at your sole risk. We reserve the right, in our sole discretion, to correct any errors or omissions in any portion of the Online Bidding service and to make any changes to the features, functionality or content of the Online Bidding service at any time.
d). We accept no liability for any failure or delay in executing bids or any errors contained in bids placed in online bidding service.
f).bidlive.com provides the online bidding service and the Treasure Art Ltd ""as is"" and without any warranty or condition, express, implied or statutory. without limiting the foregoing, we accept no liability for any failures, delays or errors caused by interruptions in the availability of the online bidding service or our web site or any errors or defects in their content or functionality, any software and/or hardware defects (whether yours or ours) and/or any internet connection problems (whether yours or ours), and we do not represent or warrant that the online bidding service or the web site will be error-free, free of viruses or other harmful components, or that any defects will be corrected.
7. Data Protection
The Buyers agree that personal information transmitted to Treasure Art Ltd maybe disclosed exclusively for the purposes of business, or as required by Law. Treasure Art Ltd shall not use personal information for any other purpose without the Buyers’ prior consent. Treasure Art Ltd never sell, lend or trade in personal data provided by any Bidder.
8. Changes to these Terms and Conditions
We may from time to time make changes to these terms and conditions. Please review these terms and conditions regularly to ensure you are aware of any changes made by us. If you use Online Bidding after changes have been made and posted, you shall be deemed to have agreed to such changes. If you do not agree to such changes, you should not make any subsequent use of the Online Bidding service.
9. Governing Law, etc.
These Treasure Art Ltd Bidding Terms and Conditions shall be governed by, and construed in accordance with, the laws that govern the general Bid Conditions in respect of the applicable Sale as specified therein, and by the other terms and conditions as are set forth in such Bid Condition.
